Nigeria recorded a merchandise trade surplus of N12.59 trillion in the second quarter (Q2) of 2026, according to the latest report by National Bureau of Statistics (NBS).
Gatekeepers News reports that NBS disclosed this in its foreign trade statistics report released on Monday, September 7, 2026. The bureau said Nigeria’s total merchandise trade stood at N41.44 trillion during the quarter, representing a 5.61 percent increase from the N39.24 trillion recorded in Q2 2025.
The trade surplus means the value of goods exported by Nigeria exceeded the value of goods imported during the period by N12.59 trillion.
The latest figure also represents a significant increase from the N7.54 trillion trade surplus recorded in Q1 2026. In Q1, total trade stood at N34.78 trillion, while exports accounted for N21.16 trillion.
The stronger trade position comes amid increased crude oil exports and a reduction in petroleum-product imports, factors that contributed to the sharp rise in Nigeria’s trade surplus in the first quarter.
The development also comes as Nigeria’s domestic refining capacity expands. The U.S. Energy Information Administration recently reported that Nigeria’s seaborne petroleum-product exports averaged 561,000 barrels per day in Q2 2026, up significantly from 2023 levels, with increased refinery output contributing to the growth.
The NBS figures indicate that Nigeria maintained its positive trade balance into the second quarter, building on the surplus recorded earlier in the year.
